Saudi EXIM Bank Enhances Competitiveness of Non-oil Exports by Adopting Credit Operations and Credits with more than SR9.4 Billion

European Union member countries' national flags wave in front of the European Parliament on October 12, 2012 in Strasbourg, eastern France. The Nobel Peace Prize was awarded on October 12, 2012 to the European Union, an institution currently wracked by crisis but credited with bringing more than a half century of peace to a continent ripped apart by World War II.   AFP PHOTO/FREDERICK FLORIN        (Photo credit should read FREDERICK FLORIN/AFP/Getty Images)
European Union member countries' national flags wave in front of the European Parliament on October 12, 2012 in Strasbourg, eastern France. The Nobel Peace Prize was awarded on October 12, 2012 to the European Union, an institution currently wracked by crisis but credited with bringing more than a half century of peace to a continent ripped apart by World War II. AFP PHOTO/FREDERICK FLORIN (Photo credit should read FREDERICK FLORIN/AFP/Getty Images)

The Saudi Export-Import Bank (Saudi EXIM) revealed that it had approved credit facilities worth SR9.4 billion from the beginning of 2022 until the end of the third quarter, where the share of requests for export credit insurance amounted to approximately SR5.9 billion, in addition to requests for export financing worth SR3.5 billion, which supports export activities in vital sectors including fertilizers, petrochemicals, glass, plastics, iron, and steel.

According to the bank’s recently issued third-quarter performance bulletin, until the end of last September, 37 credit applications had been approved, including 24 for financing and 13 for export credit insurance since the beginning of the year.

These credits contribute to supporting export deals to international markets in more than 60 countries around the world including the US, the UK, China, Sweden, India, France, and Pakistan, as well as many Asian, African, European, and South American countries.

These credits came as part of the bank’s efforts to provide more financing and insurance solutions to develop the export of national products and increase export opportunities for non-oil goods and services, increasing their competitiveness in regional and global markets, and enhancing trade exchange between the Kingdom of Saudi Arabia and its partners.

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